Health Insurance Plans For Parents Above 60 years In India

What is Senior Citizen Health Insurance?

Senior Citizen Health Insurance is a medical insurance facility provided to people above 60 years. It ensures quality health services with financial security for your parents. Older people usually need routine checkups and treatment, which is covered under Senior Citizen Health Insurance policies. It not only covers medicine costs and doctor consultation fees, but also home medical facilities in some cases.

Why Purchase a Health Insurance Plan for Parents?

A senior citizen health policy is beneficial for people above 60 years in many ways. Let’s understand some of the benefits in detail:

• No Pre-Screening: Most of the Health Insurance plans for senior citizens do not require pre-screening, which makes it easy to purchase the best policy for them.
• Tax Exemption: Health Insurance also helps to get tax benefits under section 80D, even for senior citizens.
• Quality Treatment: Older people now do not have to worry about the hospitalization expense. They can get the best treatment and medical services with the financial support of senior citizen health insurance.
• Cashless Network Hospital: Sometimes, it is difficult to arrange cash immediately for any costlier treatment or surgery. With senior citizen health insurance, insurers can directly pay off the expenses to the network hospital.

What Factors to Consider for Selection of the Right Health Insurance Plan for Parents?

You should consider the following points before selecting a suitable health insurance plan for your parents:

• Coverage of the plan
• Location of the network hospitals
• Exclusions of the policy
• Available Add-ons
• The claim settlement ratio of the insurer

List of Health Insurance Plans for Senior Citizens

Here is the detailed information about the health insurance plan available for senior citizens:

1. Care Senior Citizens Health Plan

Minimum Age: 61 years

Maximum Age: No limit

Sum Assured: 3 lakh to 10 lakh

Pre-Existing Disease Waiting Period: 2 years (specific diseases), 4 years (generally).

Some of the other features of the Care Senior Health Plan are as follows:

• 19,000+ network hospitals for quick and easy treatment.
• 92.77% claim settlement ratio, ensuring smooth claim processing.
• Covers pre & post-hospitalization along with inpatient expenses.
• Can opt for a co-payment waiver or make a 20% co-payment.
• Lifelong renewability is available.

2. ICICI Lombard Golden Shield Plan

Minimum Age: 56 years

Maximum Age: No limit

Sum Assured: 3 lakh to 50 lakh

Pre-Existing Disease Waiting Period: 2 years

Some of the other features of the Care Senior Health Plan are as follows:

• It offers a lifetime renewal service to the insured.
• Preventive Health checkups are available on an annual basis.
• No requirement for pre-screening before the age of 70 years.
• The donation and advanced treatment expenses are covered.
• Care management is offered with an add-on.

3. HDFC Ergo Optima Senior Plan

Minimum Age: 56 years

Maximum Age: No limit

Sum Assured: 5 lakh to 5 lakh

Pre-Existing Disease Waiting Period: 2 years (specific disease) and 3 years (general disease)

Some of the other features of the Care Senior Health Plan are as follows:

• You can avail No Claim Discount of 5% by not claiming for a year.
• Emergency treatment costs and organ donation expenses are also covered.
• The cost of a second medical opinion is also covered.
• The claim settlement ratio is 99%, ensuring an easy and fast experience.
• Home treatment expenses are also covered.

4. Bajaj Allianz Silver Health Plan

Minimum Age: 46 years

Maximum Age: 80 years

Sum Assured: From 50,000 to 5 Lakh (Plan A) and 3 lakh to 10 lakh (Plan B)

Pre-Existing Disease Waiting Period: 1 year

Some of the other features of the Care Senior Health Plan are as follows:

• It has 12,220 network hospitals.
• Ambulance charges up to 1000 are covered per claim.
• Cataracts, gastric ulcers, uterine bleeding, and many more health issues are covered.
• It also offers a 5% family discount.
• Mental health is covered on an In-Patient Department (IPD) basis.

5. STAR Senior Citizen Red Carpet Health Insurance Plan

Minimum Age: 60 years

Maximum Age: 75 years

Sum Assured: 1 lakh to 25 lakh

Pre-Existing Disease Waiting Period: 1 year

Some of the other features of the Care Senior Health Plan are as follows:

• There are 14000 network hospitals available for cashless treatment.
• Pre- and post-hospitalization expenses are covered.
• Coverage for modern treatment for Oral Chemotherapy, Robotic Surgeries, etc
• Daycare treatment and surgery are covered.
• The ambulance charge is also considered.

6. Magma HDI One Health Senior Citizen Plan

Minimum Age: 56 years

Maximum Age: No limit

Sum Assured: 3 lakh to 25 lakh

Pre-Existing Disease Waiting Period: 1 year

Some of the important key features of Magma HDI One Health Senior Citizen Plan are:

• Senior citizens get the benefit of annual health check-ups.
• Nursing at home is also available.
• A percentage of the Sum Insured will be awarded as a bonus in case of no claim.
• Cashless treatment at 7200 network hospitals.
• Wellness services are also given.
• Worldwide emergency cover is also given as an add-on.

7. Future Generali Varishta Bima

Minimum Age: 60 years

Maximum Age: No limit

Sum Assured: 2 lakh to 10 lakh

Pre-Existing Disease Waiting Period: 1 year

Some of the key benefits of purchasing Future Generali Varishta Bima are as:

• Lifetime renewal is available.
• Pre and post-hospitalisation expenses are covered.
• Day-care treatment and ambulance charges are covered.
• You get coverage for mental illness treatment.
• Co-payment up to 25%, other than pre-existing diseases.

8. Manipal Cigna Prime Senior Plan

Minimum Age: 56 years

Maximum Age: 75 years

Sum Assured: 3 lakh to 50 lakh(classic), 5 lakh to 50 lakh (elite)

Pre-Existing Disease Waiting Period: 2 years

Some of the other benefits of the Manipal Cigna Prime Senior Plan are:

• Cashless treatment for senior citizens is available at 6500 cashless hospitals.
• Inpatient hospitalisation expenses are covered.
• The donor expenses and Ayush treatment expenses are covered.
• Coverage for Domiciliary expenses is given.
• Worldwide emergency cover is given.

9. Niva Bupa Senior First Plan

Minimum Age: 61 years

Maximum Age: 75 years

Sum Assured: 5 lakh to 10 lakh (gold), 5 lakh to 25 lakh (platinum)

Pre-Existing Disease Waiting Period: 2 years

Some of the key benefits of the Niva Bupa Senior First Plan are as follows:

• Modern treatment and AYUSH treatment expenses are covered.
• Pre and post-hospitalisation expenses of 60 days and 180 days, respectively, are covered.
• It covers domiciliary and ambulance charges.
• Organ donor expense up to the sum assured is covered.

10. Aditya Birla Activ Care Plan

Minimum Age: 55 years

Maximum Age: 80 years

Sum Assured: 3 lakh to 25 lakh

Pre-Existing Disease Waiting Period: 2 years

Some of the benefits of the Aditya Birla Activ Care Plan are as follows:

• You can get 10-50% NCB for every claim-free year.
• You can renew the policy for a lifetime.
• Organ donation expenses are covered.
• You can get home treatment coverage up to Rs. 50,000.
• You get the benefit of an air ambulance.
• Daycare treatment coverage is also available.

Important Note: In response to concerns raised by senior citizens, IRDAI came up with a new regulation on January 30, 2025. This rule says that insurance companies cannot increase the premium by more than 10% in a year without the permission of IRDAI.

Conclusion

Health insurance becomes very important for our parents who are above 60 years old. It ensures financial support, quality treatment, and peace of mind for the parents. A good insurance plan helps to pay expenses such as hospital bills, treatments, and medicines.

All the plans discussed above have their own features and benefits. You can select the plan based on your needs and requirements. In case you find some issue while selecting the right plan, feel free to contact Square Insurance customer service.